How to Prepare for an Economic Depression

Don’t believe me? Consider the fact that more than 100 million Americans are on some sort of government food assistance right now. If EBT cards didn’t exist, just imagine how long the soup lines would be!

I write more on how I’m preparing for an economic 9/11 here.

In this post I want to share with you the recommendations of Nicole Foss, an acclaimed finance, energy, and preparedness analyst who believes we are headed towards a deflationary spiral. Yes, the time to prepare is still NOW.

In her article, “How to Build a Lifeboat,” she explains the 9 steps to personally take to prepare for a deflationary depression. I have taken these recommendations to heart and me and my family are actively following these steps to the best of our ability.

How to Prepare for an Economic Depression

According to Nicole Foss, the 9 steps to take to prepare for an economic depression are:

1) Hold no debt (for most people this means renting)

2) Hold cash and cash equivalents (short term treasuries) under your own control